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AXA PRIVATE EQUITY SELLS ALVEST TO LBO FRANCE

(The following press release from Maitland was received by e-mail. It was not 
confirmed by the sender.) 
AXA Private Equity sells Alvest to LBO France 
Paris, December 3 2012. AXA Private Equity, the leading European diversified 
private equity firm, has signed an agreement together with Equistone Partners 
Europe and the management team of Alvest to sell the company’s entire capital 
to LBO France. AXA Private Equity first invested in Alvest six years ago and 
has since actively supported its management in the company’s international 
development strategy. The completion of the transaction remains subject to 
approval from regulatory authorities.
Alvest, through its TLD subsidiary, is a French industrial group, and global 
leader of ground support equipment for airports. The group also produces and 
markets high-tech adhesive films, which are used for aeronautical applications.
Having been a majority shareholder since 2006, AXA Private Equity has supported 
the growth strategy of Alvest and helped the management successfully guide the 
company through the economic crisis. Throughout this period, Alvest has 
continued its international development, with a particular focus on emerging 
markets. The company has also broadened its offering with the acquisition of 
Sage Parts, the global leader in the distribution of spare parts for ground 
support equipment at airports.
Investment in research & development (R&D), another key part of the growth 
strategy set up alongside AXA Private Equity, remained at a high level, giving 
Alvest and TLD the opportunity to develop  high value added projects, such as 
the Taxibot, a vehicle used to maneuver aircrafts on runways. This innovative 
product allows planes to access runways without using their engines, enabling 
fuel savings and a significant reduction of CO2 emissions.
Alvest now has 1,350 employees, a global proprietary sale network and operates 
eight factories in the United States, Canada, France and China, which together 
serve customers in over 130 countries. The group plans to reach a turnover of 
more than €300 million in 2012, more than double the 2006 level.
Jean-Marie Fulconis, CEO of Alvest, said: “AXA Private Equity’s support has 
been a key element in our successful development. We are now ideally positioned 
to continue our growth. The innovative products we have launched offer good 
growth prospects and the high value added projects we have in the pipeline make 
us confident in our Group’s future.”
Yann Chareton, Director Mid Market Enterprise Capital at AXA Private Equity, 
added: “With our support, Alvest has continued to grow over the last six years. 
The stability and market knowledge of the management has allowed the company to 
reinforce its international market leading position. With the support of the 
new shareholder, the group is now able to seize upon the best opportunities 
generated by the attractive growth perspectives of emerging markets air 
traffic.” 
ABOUT AXA PRIVATE EQUITY
AXA Private Equity is a world leader in private equity, with assets of $28 
billion managed or advised in Europe, North America and Asia. The company 
offers its investors a wide choice of funds covering the full range of asset 
classes: Funds of Funds (primary, early secondary and secondary), Direct Funds 
including Infrastructure, Small and Mid Market Enterprise Capital, Innovation & 
Growth, Co-Investment and Private Debt.
With offices in Beijing, Frankfurt, London, Luxembourg, Milan, New York, Paris, 
Singapore and Zurich, AXA Private Equity is committed to supporting companies 
in their long term growth by providing access to its international network. AXA 
Private Equity sets great store by the regularity and quality of its reporting 
on the performance of its funds and the performance of the companies in its 
portfolio, as a service to its investors.
AXA Private Equity, Global Investments the European way
www.axaprivateequity.com<http://www.axaprivateequity.com/> 
ABOUT ALVEST
Alvest is an industrial Group leader through its subsidiaries TLD and SAGE 
PARTS on the market of ground support equipment for airports. Alvest has 1,350 
employees, a global proprietary sale network and operates eight factories based 
in four countries (United States, Canada, France, China). The Group has a 
turnover of more than €300 million in 2012 serves serve customers in over 130 
countries. 
ABOUT EQUISTONE PARTNERS EUROPE
Equistone Partners Europe SAS is the French subsidiary of the eponymous private 
equity fund, formerly Barclays Private Equity. Equistone Partners Europe has 
been independent since November 2011, and is wholly owned by the management 
team. With 400 investments achieved since its creation, Equistone is one of the 
most active equity investors in Europe. The fund has offices in England, 
France, Germany and Switzerland. Equistone invests in non-listed companies, 
mainly operating in the management buy-out sector. Equistone Partners Europe 
manages more than €4 billon through its funds and assets under management.
Equistone has been in France since 1991 and has invested more than €1.8 billion 
in around 100 transactions, such as Spie Batignolles, Converteam, Fives, 
Flaktwoods, Karavel-Promovacances, La Toulousaine.
More information:
www.equistonepe.fr<http://www.equistonepe.fr> 
PARTIES INVOLVED 
AXA Private Equity: Dominique Gaillard, Bruno Ladrière, Yann Chareton
Equistone Partners Europe: Arnaud Thomas, Thierry Lardinois
Financial advisor to sellers: Rothschild & Cie: Laurent Baril, François de 
Breteuil
Legal advisor to sellers: Linklaters: Vincent Ponsonnaille, Sebastien Pontillo
LBO France: Robert Daussun, Jerome Guez, Gilles Taldu 
PRESS Contacts 
AXA Private Equity
HeadLand Consultancy
Ben Girdlestone
Tel: +44 207 3675 243
bgirdlestone@headlandconsultancy.co.uk<mailto:bgirdlestone@headlandconsultancy.c
o.uk> 
Daniel Kahn
Tel: +44 207 3675 247
dkahn@headlandconsultancy.co.uk<mailto:dkahn@headlandconsultancy.co.uk>
 
 
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